Desjardins Reiterates “C$58.00” Price Target for Hydro One (TSE:H)

Desjardins set a C$58.00 price target on Hydro One (TSE:H) in a research note released on Tuesday, Marketbeat reports. The brokerage currently has a buy rating on the stock. Desjardins also issued estimates for Hydro One’s Q1 2025 earnings at $0.56 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.58 EPS, Q4 2025 earnings at $0.43 EPS, FY2025 earnings at $2.06 EPS, FY2026 earnings at $2.20 EPS, FY2027 earnings at $2.30 EPS, FY2028 earnings at $2.40 EPS and FY2029 earnings at $2.61 EPS.

Several other equities analysts also recently issued reports on the stock. CIBC upped their price objective on shares of Hydro One from C$46.00 to C$49.00 in a research note on Friday, April 4th. Raymond James decreased their target price on Hydro One from C$48.00 to C$45.00 and set a “market perform” rating for the company in a research report on Thursday, April 17th. Jefferies Financial Group lifted their price target on Hydro One from C$45.00 to C$49.00 and gave the stock a “hold” rating in a research report on Tuesday, April 15th. Royal Bank of Canada increased their price objective on Hydro One from C$43.00 to C$46.00 in a report on Friday, February 21st. Finally, Scotiabank lifted their target price on shares of Hydro One from C$45.00 to C$46.00 and gave the company a “sector perform” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$47.56.

Hydro One Stock Down 1.7 %

H stock opened at C$52.59 on Tuesday. The company’s 50 day moving average is C$49.52 and its two-hundred day moving average is C$46.45. Hydro One has a twelve month low of C$38.24 and a twelve month high of C$53.98. The company has a current ratio of 0.58, a quick ratio of 0.30 and a debt-to-equity ratio of 140.53. The stock has a market cap of C$31.53 billion, a P/E ratio of 27.73, a PEG ratio of 3.17 and a beta of 0.34.

Hydro One Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were paid a $0.3142 dividend. This represents a $1.26 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Wednesday, March 12th. This is a boost from Hydro One’s previous quarterly dividend of $0.31. Hydro One’s dividend payout ratio (DPR) is 66.44%.

Hydro One Company Profile

Hydro One operates regulated transmission and distribution assets in Ontario. The area’s largest electricity provider serves nearly 1.5 million customers. Transmission accounts for roughly 60% of the company’s rate base, with distribution accounting for the remainder. Hydro One operates a small telecom business, Acronym Solutions, with annual revenue contributing less than 1% to consolidated results.